By our Financial Correspondent
Mumbai, Oct 25 (IVC) India would be the world’s third largest economy by overcoming Japan by 2030, according to Standard and Poor Global rating agency.
India would become the world’s third largest economic power after overcoming Japan and Germany in a period of seven years, S&P’s intelligence report said here recently. By that time, India would be the second largest economic power in the Asia Pacific Zone, the report revealed.
India had overcome UK and France in 2022 in the economic growth and the country is expected to achieve an impressive economic growth in 2023 as was done in 2021 and 2022.
India would achieve an economic growth in between 6.2 per cent and 6.3 per cent in the fiscal 2023-24 and thus India would become the fastest growing economy in the world, the report added.
In next 10 years also India would attain an impressive economic growth . Now USA is on top of world’s economic power with $25.5 trillion of Gross Domestic products (GDP) which works out to 25 per cent of the world’s GDP . China stands second with $18 trillion and 17.9 per cent of the world’s GDP and Japan placed third with $4.2 trillion GDP and Germanys stands on the fourth place, S&P’s Market Intelligence revealed. IVC ckg Bmi.